The corporation plans to increase procurement from India to reduce supply chain risk. Boeing currently imports $1 billion’s worth of supplies from the nation.
The aerospace company’s intentions come as global supply chain concerns have halted aircraft production and prompted local carriers to use wet leasing.
Salil Gupte, the president of Boeing India, said that the company uses more than 300 suppliers as part of its worldwide supply network. These Indian enterprises make and export systems and components for Boeing’s most advanced products, according to Gupte.
Boeing India has partnered with various MSMEs to supply parts.
We are steadily buying from India for worldwide supply chain and production and will continue to establish a competitive global supplier base in India, he said.
Gupte observed that COVID-19 had damaged global supply chains across industries, and firms are coping. He claimed we still have major supply chain bottlenecks. Gupte said wet leasing 777s for long-haul flights remains a cost-effective option for carriers. This month, domestic aviation saw a record high of 4.13 lakh passengers per day, up from 4.07 lakh pre-Covid.
Industry experts attribute the high passenger numbers to pent-up demand, the wedding and holiday seasons, the Center’s regional connectivity scheme, UDAN, and the building more Indian airports.
Gupte noted that airlines might need to increase flights and itineraries to fulfill demand. India would need 2,200 new passenger airliners for $375 billion over the next 20 years.